The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Series A round of $154 million was led by Joshua Kushner’s venture capital firm Thrive Capital, with additional investment from Imaginary Ventures and Alliance Consumer Growth. Founded in 2018, the inclusive shapewear brand has sold over 4 million units as the multi-billion dollar shapewear market heats up. The Kardashian-owned retailer — which added loungewear to its mix in the midst of the pandemic — will use the new injection of funds for product innovation, expansion into new categories, global growth and exploration of brick-and-mortar.
This news comes after a busy week for Kardashian West, in which she appeared on the Forbes’ billionaires list for the first time and began a bid for the skin care market.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.